Whitestone REIT, a real estate investment trust (REIT), engages in the investment and operation of retail, office, and warehouse properties located in the Houston, Dallas, San Antonio, and Phoenix metropolitan areas. As of March 31, 2008, it owned and operated 37 properties. The company has elected to be treated as a REIT under the Internal Revenue Code of 1986. As a REIT, it would not be subject to federal income tax, provided it distributes at least 90% of its taxable income to its shareholders. The company, formerly known as Hartman Commercial Properties REIT, was founded in 1998 and is based in Houston, Texas.